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Significant changes to the banking industry could provide new opportunities for economic growth on the Island. 

 

That's the message from the Treasury which says the Financial Services Authority will work with local banking groups in light of the Vickers Report. 

 

By 2019 it's believed the way banks are structured will be changed to split investment and retail banking - it's something Onchan MHK Peter Karran says the Island should be reactive too.

 

Minister Eddie Teare says whilst we can't plan the way forward yet it's an area which is being closely monitored:

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